Registration number: 05028443

Serkit Electrical Limited

Contents

Company Information	1
Directors' Report	2
Balance Sheet	3 to 4
Notes to the Unaudited Financial Statements	5 to 10

Serkit Electrical Limited

Company Information

Directors

M Wilson M Woods

Registered office

Unit 29 Rotherham Close Norwood Industrial Estate Killamarsh Rotherham S21 2JU

Accountants

Wickershams Eckington Business Centre 1 62 Market Street Eckington Sheffield S21 4JH

Serkit Electrical Limited

Directors' Report for the Year Ended 28 February 2025

The directors present their report and the financial statements for the year ended 28 February 2025.

Directors of the company

The directors who held office during the year were as follows:

M Wilson

M Woods

Principal activity

The principal activity of the company is electrical contractors

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 19 November 2025 and signed on its behalf by:
 

......................................... M Wilson Director

Serkit Electrical Limited

(Registration number: 05028443)
Balance Sheet as at 28 February 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	162,123	189,456
Current assets
Debtors	6	118,934	116,852
Cash at bank and in hand		142	143
		119,076	116,995
Creditors: Amounts falling due within one year	7	(79,446)	(44,003)
Net current assets		39,630	72,992
Total assets less current liabilities		201,753	262,448
Provisions for liabilities		(23,507)	(26,337)
Net assets		178,246	236,111
Capital and reserves
Called up share capital	8	2	2
Retained earnings		178,244	236,109
Shareholders' funds		178,246	236,111

Serkit Electrical Limited

(Registration number: 05028443)
Balance Sheet as at 28 February 2025

For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account and Directors' Report.

Approved and authorised by the Board on 19 November 2025 and signed on its behalf by:
 

......................................... M Wilson Director

Serkit Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 29
Rotherham Close
Norwood Industrial Estate
Killamarsh
Rotherham
S21 2JU

These financial statements were authorised for issue by the Board on 19 November 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Serkit Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% reducing balance
Fixtures and fittings	15% reducing balance
Motor vehicles	25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	5% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Serkit Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Serkit Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2024 - 6).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 March 2024	60,000	60,000
At 28 February 2025	60,000	60,000
Amortisation
At 1 March 2024	60,000	60,000
At 28 February 2025	60,000	60,000
Carrying amount
At 28 February 2025	-	-

Serkit Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

5	tangible assets

	Fixtures and fittings £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 March 2024	37,889	64,618	230,751	333,258
Additions	-	-	41,475	41,475
Disposals	-	-	(36,404)	(36,404)
At 28 February 2025	37,889	64,618	235,822	338,329
Depreciation
At 1 March 2024	25,979	39,505	78,318	143,802
Charge for the year	1,787	3,767	40,693	46,247
Eliminated on disposal	-	-	(13,843)	(13,843)
At 28 February 2025	27,766	43,272	105,168	176,206
Carrying amount
At 28 February 2025	10,123	21,346	130,654	162,123
At 29 February 2024	11,910	25,113	152,433	189,456

6

Debtors

Current	2025 £	2024 £
Trade debtors	109,405	107,214
Prepayments	1,425	1,650
Other debtors	8,104	7,988
	118,934	116,852

Serkit Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	34,801	14,703
Trade creditors		4,727	16,882
Taxation and social security		1,076	5,489
Accruals and deferred income		2,958	3,408
Other creditors		35,884	3,521
		79,446	44,003

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	2	2	2	2

9	Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Bank overdrafts	34,801	14,703

10	Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	33,600	33,800
Contributions paid to money purchase schemes	30,000	60,000
	63,600	93,800